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Question on renting out house

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  #1  
Old 03-24-2022, 11:28 AM
Garywt Garywt is offline
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Something we never thought we would do but a friend called asking if she could rent our house over the summer. Never planned on it but since it is a friend we said yes. She will pay $1500 a month, not sure is that is cheap or not but money we did not plan on.

Anyway, what do I need to do. Is it just to get her a guest pass or ID so she can use the pools etc. How do I do that and is there anything else that I need to do.

Thanks
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Old 03-24-2022, 11:37 AM
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rjm1cc rjm1cc is offline
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I would check with your insurance co to see that you are covered.

You might also ask about how long the house can be vacant without an insurance problem.
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Old 03-24-2022, 11:56 AM
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Originally Posted by rjm1cc View Post
I would check with your insurance co to see that you are covered.

You might also ask about how long the house can be vacant without an insurance problem.
Thanks, the house is generally empty 46 weeks out of the year including May 1 to sometime in October.
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Old 03-24-2022, 12:12 PM
fdpaq0580 fdpaq0580 is offline
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Quote:
Originally Posted by rjm1cc View Post
I would check with your insurance co to see that you are covered.

You might also ask about how long the house can be vacant without an insurance problem.
Most definitely check with your insurance. Liability differences for a renter are possibly different than for a guest in your home. Also, if you report rent on your taxes, it may change your tax status and forms needed.
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Old 03-24-2022, 12:26 PM
Bjeanj Bjeanj is offline
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To obtain a guest ID, go here, log in, and complete the form. Guest ID Application

You’ll want to do this about 2-3 days ahead of time, and specify where you want to pick it up. Note that YOU will have to show your ID to pick it up, I believe.

Other people who rent their home: can you confirm or correct that info about picking up the guest IDs?
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Old 03-24-2022, 01:03 PM
Bill14564 Bill14564 is offline
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Quote:
Originally Posted by Bjeanj View Post
To obtain a guest ID, go here, log in, and complete the form. Guest ID Application

You’ll want to do this about 2-3 days ahead of time, and specify where you want to pick it up. Note that YOU will have to show your ID to pick it up, I believe.

Other people who rent their home: can you confirm or correct that info about picking up the guest IDs?
I believe the guest ID is only valid for 30 days. If the person is renting the home for several months and the homeowner is out of the area it will be difficult to renew the guest ID.

I would suggest calling the customer service center and ask them about the procedure. I believe it will involve turning in your resident ID for the period of time the renter will have their ID but the customer service center can point you in the right direction.
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Old 03-24-2022, 01:35 PM
Two Bills Two Bills is offline
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I would assume the landlord would pass their Resident ID over to the renters.
Guest ID is not much use to a long term renter.
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Old 03-24-2022, 02:05 PM
DALEPQ DALEPQ is offline
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We have previously rented our house for several summer months.
$1500./mo. seems like a fair rent, for summer months, providing you are still paying the
typical monthly expenses. (Are your summer months June, July Aug.?)
We turn our residence id's back to T.V. (depends on your location), they hold for us till we get back. The renter can then get a "residence id" for $50. for two persons, for the term of their rental. That cannot overlap with your time in T.V. (If so they need to get a guest id.)
You just need to fill out a form for the renter to allow them to get their resident id.
T.V. has the form online as well as in person. Need to go to their regional sales office.
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Old 03-24-2022, 03:25 PM
Stu from NYC Stu from NYC is offline
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Interesting do you ask for a security deposit given that is a friend but what if they damage something?
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Old 03-24-2022, 04:19 PM
n8xwb n8xwb is offline
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You are also required to collect/pay County/State taxes (~7% in Sumter County as I recall)


Who Must Register to Collect Tax?


If you collect or receive rental charges or room rates for living quarters or sleeping or housekeeping
accommodations for rental periods of six months or less (transient rental accommodations), you must
register with the Department to collect, report, and remit sales tax and surtax, plus any local option transient
rental tax that is collected by the Department. (Transient rental tax collected by the county is reported to the
county.) Each transient rental accommodation is required to be separately registered by the owner or the
owner’s agent who collects and receives rental payments on behalf of the owner.
You can register to collect, report, and pay sales tax, discretionary sales surtax, and transient rental tax
collected by the Department online at floridarevenue.com/taxes/registration. The online system will guide
you through a series of questions that will help you determine your tax obligations. If you do not have
internet access, you can complete a paper Florida Business Tax Application (Form DR-1).
As a registered sales and use tax dealer, a Certificate of Registration (Form DR-11) and a Florida Annual
Resale Certificate for Sales Tax (Form DR-13) will be mailed to you. Paper tax returns will be mailed to you
unless you are filing electronically. The Certificate of Registration must be displayed in a clearly visible place
at the location of the transient rental accommodation. The Florida Annual Resale Certificate for Sales Tax is
used to lease or rent transient rental accommodations that will be subleased to others for which you will
collect transient rental taxes. Florida law provides for criminal and civil penalties for fraudulent use of a
Florida Annual Resale Certificate for Sales Tax.

Last edited by n8xwb; 03-24-2022 at 04:29 PM.
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Old 03-24-2022, 04:19 PM
thevillages2013 thevillages2013 is offline
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Quote:
Originally Posted by Garywt View Post
Something we never thought we would do but a friend called asking if she could rent our house over the summer. Never planned on it but since it is a friend we said yes. She will pay $1500 a month, not sure is that is cheap or not but money we did not plan on.

Anyway, what do I need to do. Is it just to get her a guest pass or ID so she can use the pools etc. How do I do that and is there anything else that I need to do.

Thanks
Mixing money and friends sounds like a bad idea but your guest/tenant would be better served with a temporary resident ID which takes the place of your IDs . They used to make you turn your ID’s in but I don’t think they make you do that anymore the temp ID just replaces your’s temporarily. Golf for the tenant is the same rate as you rather than the guest rate
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Old 03-24-2022, 10:21 PM
fdpaq0580 fdpaq0580 is offline
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Gary,
You are now a landlord. I sincerely hope your friend is a really, really great friend since you now realize what you have taken on for her summer vacation. Assuming "the summer" meant 3 months, that means $4500.00 gross income. After all that you have to do for making all the arrangements for her to enjoy the amenities and to pay taxes etc. Since you have agreed (per my understanding of your post) to $1500.00 per month,it is assumed you will be paying for all the costs (water, sewer, electric, trash, cable/internet, cards, etc, plus the taxes and any fees) out of her payment to you. You may wish to have another talk with her, now that you are beginning to grasp the situation more firmly. ( Reread post 8, 10, 11! ) Think about it.
Good luck with whatever you decide.
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Old 03-25-2022, 04:33 AM
j_vermilya j_vermilya is offline
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All the information here is correct. Your home owner's will in fact charge you a prorated monthly amount, they will need the dates the guests will be here. Also be sure your golf cart is insured for renter's use, some policies will not cover that, The villages insurance does.
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Old 03-25-2022, 04:57 AM
tsmall22204 tsmall22204 is offline
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Beware of "friends". Renting to friends is a big mistake unless you are willing to face your friend in court for damages to your home.
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Old 03-25-2022, 05:31 AM
RealJudy RealJudy is offline
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Check with sales office for forms.
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